Bitcoin Block Size Reaches New All-Time High As Of Today

The Bitcoin block size reaches a new all-time high as the network continues to improve in many parameters since its block size carried the heaviest set of transactions ever recorded, which means that it peaked as we can see in the Bitcoin news now.

A Bitcoin block size usually varies but that usually happens with small blocks spread. There is no target or limitation on the block size, and the network of Bitcoin (BTC) did not set out to distribute large blocks deliberately. This record peak for Bitcoin (BTC) happened 100% naturally and made a block size of 1.312 MBs. Observing we can see that the Bitcoin (BTC) network went through a relatively unbroken growth in a matter of block sizes, succeeding to distribute all the larger blocks through all nodes.

The largest blocks were produced on the days of meaningful activity, at that time most of the blocks were filled. The transaction fees were at The transaction fees were at $0..
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29, a little higher from the all-time lows about $0.05, but for now, the full blocks have not coincided with congestion.

The large block occurred when the usage of SegWit transactions from all Bitcoin (BTC) addresses was around 55-60% dividing a part of the information. SegWit usage has grown in the last two years, starting slow in the beginning and now stabilized at this level. For now, the combo of transaction count, block weights and SegWit usage uncover the Bitcoin (BTC) network has succeeded to scale.

Regardless of the higher trading activity, the Bitcoin (BTC) network did not experience any meaningful congestion. It was seen in December of 2017 that the congestion and the $100 fees were a timely thing caused by a few sources, like exchange hype and spam transactions. The general transaction movement on the Bitcoin (BTC) network remains fairly low if we compare it with the record in the middle of 2019. Yet the network is still carrying meaningful value every day, with 485,000 transactions made in the last 24 hours. In addition, Bitcoin SV (BSV) transaction counts have managed to surpass those of Bitcoin (BTC) and the network produced considerably larger blocks for months probably founded on deliberate labors which we have previously discussed.